FTR Reports North American Class 8 Orders for March Plummet to 7,400 Units with Large Cancellations

04.02.20 | FTR

FTR reports preliminary North American Class 8 orders plummeted in March to 7,400 units, the lowest order total since 2010. March orders were -48% m/m and -52% y/y. A significant number of fleets canceled orders previously placed due to the sharp and sudden downturn in economic conditions.
Uncertainty over the duration of the COVID-19 crisis is limiting orders to short-term, definite needs. FTR expects orders to stay near the 10,000-truck mark for a few months until economic activity regenerates. Class 8 orders have totaled 170,000 units over the past twelve months.

Click here to view the latest release and an interactive graph of the Class 8 Orders >

Don Ake, vice president commercial vehicles, commented, “The only good news here, is that the number was still positive despite the high number of expected cancellations. The gross order number is probably higher than 10,000 trucks, which means at least some fleets need more vehicles. A few carriers are doing well in the short-term, depending on the region and the type of freight being hauled.
“It is expected that most fleets will pause their replacement cycles due to the crisis. Large fleets that have immediate needs and the financial resources will continue to place modest orders. Additionally, smaller fleets may tap into the used truck market for their short-term needs to reduce the financial risk. The second quarter will be tough on the Class 8 market, and the third quarter is still highly uncertain.
Final data for March will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service. To contact FTR, email [email protected] or call (888) 988-1699 ext. 1.

The full trailer data is available as part of FTR's North American Truck & Trailer Outlook service.

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About FTR
For more than 30 years, FTR has served as the industry leader in freight transportation forecasting for the shipping, trucking, rail, intermodal, equipment, and financial communities in North America. FTR’s experts, with over 250 years of combined experience in the transportation industry, provide quantitative analysis with historical and modal-specific insights. FTR’s reports, data, commentary, and insights help clients evaluate market risks, identify new opportunities, and make informed decisions.

FTR is the only company with a complete set of freight data for all modes of transportation with detail at the 3 Digit STCC commodity level. FTR tracks and forecasts 200+ unique commodity groups both quarterly and annually using their proprietary Freight•cast U.S. freight transportation model. FTR’s Transportation Conference held annually in September in Indianapolis is a unique event bringing together every aspect of the freight transportation world into one place. For more information 

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